Question: Edwards Corp. uses the average cost retail inventory method and reports the following information: Cost Retail Beginning inventory $3,000 $4,000 Purchases $21,000 $25,000 Net markups

Edwards Corp. uses the average cost retail inventory method and reports the following information:

Cost Retail
Beginning inventory $3,000 $4,000
Purchases $21,000 $25,000
Net markups $2,000
Net markdowns $1,000
Sales $23,000

What is the Average Cost value of ending inventory for Edwards Corp.?

$5,880 $6,750 $5,600 $5,250

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